Mastering IRS Form 7217: Partnership Property Distributions
Overview
The IRS recently released the new Form 7217 for 2024, designed for a partner to report distributions of property received from a partnership. This course dives into the complexity of the partnership distribution rules and their application to the new form, as well as discuss liquidating a partner’s interest, Section 751 and the Section 754 election.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate
This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by CPA Crossings.
Highlights
The major topics that will be covered in this course include:
- Property distributions in liquidation of a partner’s interest
- Section 751 and its impact on property distributions from a partnership
- Mechanics of completing Form 7217 – new for 2024
- The Section 754 election and its role in partnership property distributions
Prerequisites
Basic working knowledge of individual and business taxation.
Designed For
CPAs and members in industry seeking an in-depth review of partnership property distributions.
Objectives
After attending this presentation, you will be able to...
- Implement practical strategies based on a thorough understanding of the complex rules for partnership distributions of property
- Identify and recall key compliance issues
- Identify and recall significant issues in the Form 7217
Preparation
None
Leader(s):
Leader Bios
Steven Dilley, CPA Crossings, LLC
Steve Dilley is President of Federal Tax Workshops, Inc. He is nationally known speaker and author on financial, accounting, and tax problems of the closely held business and individual taxpayers. Steve obtained his undergraduate accounting degree, PhD in accounting, and law degree from the University of Wisconsin-Madison and is a retired Professor of Accounting at Michigan State University. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Non-Member Price $55.00
Member Price $55.00